xStocks Opens Tokenized Access to Bending Spoons' $19B Nasdaq IPO, Listing June 30

xStocks AAPLx$343.55-0.9% opened tokenized price exposure to Bending Spoons' Nasdaq IPO on June 26, becoming only the second IPO the platform has offered since launch. Kraken and other xStocks Alliance partners including Backpack and Solflare are accepting applications until June 29 at 15:00 UTC; the company lists on Nasdaq on June 30.

Bending Spoons is the Italian software company behind WeTransfer, Evernote, Vimeo, Eventbrite, Remini, StreamYard, and AOL, among more than 50 products that together reach 500 million monthly users. Its model is to acquire underperforming digital platforms, cut costs, rebuild the technology, and run them at scale. The numbers from that approach are difficult to argue with: 2025 revenue came in at $1.31 billion, up 95% year-over-year, and Q1 2026 revenue hit $601 million, up 132% year-over-year, with the company already profitable after swinging from a $112 million net loss in Q1 2025 to net income of roughly $28 million in Q1 2026.

The company is marketing 58 million shares at $26 to $28 each, targeting a valuation of approximately $19 billion at the top of the range under the ticker BSP. Goldman Sachs, JPMorgan Chase, and Allen & Co are the lead underwriters.

How the xStocks Tokenized IPO Works

The offering is structured as price exposure, not a direct ownership stake. xStocks clarified in a follow-up to its announcement: "IPO xStocks are tokenized equities providing price exposure only — not direct ownership. Allocation is not determined by xStocks or Kraken and may be full, partial, or none; it is not guaranteed, and any funds not allocated are returned."

That distinction matters given what happened with xStocks' first tokenized IPO attempt. When SpaceX listed in June, multiple exchange campaigns (including one that drew $557 million in on-chain subscriptions on Binance alone) were canceled after xStocks could not source enough underlying SpaceX shares to fulfill subscriptions. Exchanges refunded participants and some distributed consolation token grants. CoinDesk covered the mechanics behind the gap between tokenizing a stock and actually procuring one at the time.

The offering is not available to US persons, UK, Canada, or Australia residents, and geo restrictions apply. Capital is at risk.

Bending Spoons BSP: xStocks' First IPO Offering After SpaceX

The xStocks announcement comes as Solana's tokenized equity market has been setting records. Tokenized assets surpassed memecoins as a share of Solana's daily spot volume for the first time on June 23, with daily equity trading hitting a $644 million all-time high on June 24. The Bending Spoons offering extends xStocks' footprint from secondary-market tokenized stock trading into primary-market IPO access.

Solflare, which added 134 xStocks to its wallet in its June 2026 update, is among the Alliance partners accepting applications alongside Kraken and Backpack.

Key Dates for Bending Spoons BSP

The xStocks platform reached $25 billion in cumulative transaction volume earlier this year. The Bending Spoons tokenization is xStocks' first IPO offering since the SpaceX episode, and its first for a company listing on Nasdaq from a European base.